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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash Flows from Operating Activities      
Net income $ 894 $ 1,202 $ 690
Adjustments to reconcile net income to net cash flows provided by operating activities:      
Deferred income tax (benefit) expense (34) 47 (49)
Trading portfolio activity 6 20 (5)
Net investment losses (gains) 199 (120) 54
Equity method investees 250 (127) (8)
Net amortization of investments (129) (81) (67)
Depreciation and amortization 51 54 60
Changes in:      
Receivables, net (226) (1,358) (409)
Accrued investment income (29) 3 16
Deferred acquisition costs (79) (30) (43)
Insurance reserves 1,791 2,463 1,681
Other, net (192) (76) (145)
Net cash flows provided by operating activities 2,502 1,997 1,775
Dispositions:      
Fixed maturity securities - sales 5,909 3,816 5,904
Fixed maturity securities - maturities, calls and redemptions 2,358 4,464 3,760
Equity securities 509 316 355
Limited partnerships 138 246 373
Mortgage loans 125 190 74
Purchases:      
Fixed maturity securities (9,821) (9,307) (10,269)
Equity securities (294) (304) (452)
Limited partnerships (337) (440) (224)
Mortgage loans (200) (95) (172)
Change in other investments 8 (6) (8)
Change in short term investments 155 (83) (39)
Purchases of property and equipment (52) (26) (23)
Other, net (10) 1 16
Net cash flows used by investing activities (1,512) (1,228) (705)
Cash Flows from Financing Activities      
Dividends paid to common stockholders (982) (621) (950)
Proceeds from the issuance of debt 0 0 495
Repayment of debt 0 0 (419)
Purchase of treasury stock (39) (18) (18)
Other, net (11) (9) (10)
Net cash flows used by financing activities (1,032) (648) (902)
Effect of foreign exchange rate changes on cash (19) (4) 9
Net change in cash (61) 117 177
Cash, beginning of year 536 419 242
Cash, end of period $ 475 $ 536 $ 419